It was not a good week for the 30-year fixed mortgage rate, which fell for the fourth consecutive week to its lowest level of this year and its lowest mark since Nov. 10, 2016.
According to Freddie Mac
, the 30-year fixed-rate mortgage (FRM) averaged 3.86 percent for the week ending Aug. 24, down from last week when it averaged 3.89 percent. On a bright note, it is higher than the 3.43 percent it averaged a year ago at this time.
The 15-year FRM this week averaged 3.16 percent, unchanged from last week. And the five-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.17 percent this week, up from last week when it averaged 3.16 percent.